AboveNet announces connectivity and proximity hosting services with Chi-X Europe

AboveNet, a leading provider of fibre optic connectivity solutions for business and carriers, today announced an agreement with multilateral trading facility Chi-X Europe. This agreement will provide financial institutions with ultra-low latency connectivity and proximity hosting for accessing Chi-X Europe’s market data and trading platform services.

AboveNet has strategically located its core wavelength infrastructure within a key London data centre close to Chi-X Europe’s trading engine. This dedicated proximity-hosting environment enables sub-millisecond latencies when connecting to the Chi-X Europe platform via a single connection.  By using AboveNet’s scalable and secure fibre-based wavelength infrastructure for core connectivity, financial institutions can implement a secure, high capacity network that is well equipped to support the volume of high speed trades executed per second.

Commenting on the announcement, Hirander Misra, COO of Chi-X Europe said: “Through our streamlined business model, institutional investors are able to trade a wide range of European equities and achieve low-cost, high-speed trade execution, offering opportunities for price improvement. We are pleased to welcome AboveNet connectivity for our growing roster of Chi-X users.”

John Donaldson, managing director at AboveNet, commented: “The durability and capacity of our network will offer clients near-zero latency and the highest levels of security and reliability.  We are well positioned to handle the volume of data Chi-X Europe is currently generating and our fully scalable capacity can readily anticipate Chi-X Europe’s future growth.”

About AboveNet, Inc.
AboveNet provides fibre optic connectivity solutions for businesses in and between 15 top U.S. metro markets and London. It also has a Tier 1 IP network that connects to 20 cities in 7 countries. AboveNet's network is widely used in demanding markets such as financial services, media, health care and retail.

About Chi-X® Europe
Chi-X Europe Limited is an FSA-authorised securities firm operating as a multilateral trading facility (MTF) for the trading of a wide range of European equities. Chi-X Europe’s low-cost, streamlined operating model is designed to help participants achieve ultra-low execution, clearing and settlement costs, and benchmark tests have shown the Chi-X Europe to be significantly faster than Europe’s traditional equity exchanges. Chi-X Europe disseminates real-time market data to clients directly and via third-party market data vendors at no cost, and off-exchange trade reporting is available for a low monthly fee. For more information, please visit www.chi-x.com

For further press information, interviews and photography on AboveNet UK, please contact the team at LEWIS PR:
Suzy Ferguson / Niki Hutchinson, +44 (0)20 7802 2626
abovenet@lewispr.com

Or, for Chi-X Europe Limited please contact Streets Consulting Ltd:
Julia Streets, + 44 (0)7976 205552
julia.streets@streetsconsulting.com

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This news release contains forward-looking statements that involve risks and uncertainties. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, general economic and business conditions, competition, changes in technology and methods of marketing, and various other factors beyond the Company’s control. This also includes such factors as are described from time to time in the SEC reports filed by AboveNet, Inc., including the most recently filed Form 8-K.